Detroit secures, auctions off initial batch of Proposal N residences

Detroit — The Detroit Land Bank Authority this week set the initially batch of vacant residences stabilized with voter-approved bond funding up for auction.

The $250 million bond, coined Proposal N, as in neighborhoods, was championed by Mayor Mike Duggan as essential in stabilizing Detroit’s housing inventory, by tearing down a proposed 8,000 houses and securing and auctioning off one more 8,000.

Two of the homes are mentioned for auction day by day. One of the residences that went up Friday was 8965 Milner, north of Interstate 94 and east of Gratiot on the city’s east aspect.

8965 Milner, on Detroit's east side, is among the first batch of homes stabilized and up for auction under the city's voter-approved $250 million bond program.

Minimum amount bids are $1,000, and by afternoon the large bid was about $3,200.

Land financial institution officials on Friday noted that closer to 3,000 houses will be in the pipeline by the end of the 12 months to be secured and bought underneath the bond effort and hard work, due to the fact countless numbers of others sold prior to the November passage of the plan. 

So much, about 2,600 vacant homes adjacent to occupied houses have been discovered for or are going through stabilization and 370 some others have been razed below the demolition facet of the bond system. A different 1,300 blighted homes are in “latest, active demolition” and a different 2,000 have been permitted by Detroit Metropolis Council, claimed LaJuan Counts, Detroit’s demolition director.